NYU Stern

Frequently Asked Questions


What are the differences between the three competitions?


 New Venture CompetitionSocial Venture CompetitionTechnology Venture Competition
Sectors
All, except Consulting, Franchises, Real Estate Syndications
 
All including nonprofit but must pursue the double bottom line of social impact and have an earned revenue stream
 
Life Sciences, IT and Clean Tech
 
Team Requirements
 
Must have at least 1 NYU student, Stern alum or faculty member.
 
Must have at least 1 NYU  student, Stern alum or faculty member.
 
Must have at least 1 NYU student, researcher or faculty member.
 
IP Requirements
 
None
 
None
 
Venture must be based on IP developed while working or studying at NYU.
 

Are there any specifications to the size of the team?

No. You can enter alone (not recommended) or as a group. Up to the first round of pitches, team members can be added or removed.

New ventures need all types of expertise and skill sets to be successful. Meet future teammates during our Teammate Hunt, or at competition events or join the Business Plan Competitions Facebook group. Click here for more information.

Are there any restrictions on the ventures?

The competition is for new ventures in the seed, start-up, or early growth stages. If a venture has received more than $250,000 in outside financing or institutional funding, it is ineligible. You will need the competition committee’s approval if the venture generates income exceeding $250,000.

Venture Exclusions
New Venture Competition
- excluded are the following: the start or expansion of a consultancy or advisory firm, real estate syndications, or plans related to starting or expanding an investment organization and expansions of existing companies.
Social Venture Competition - excluded are non-profit businesses. The competition is for ventures pursuing the double bottom line of social impact and financial profitability or sustainability, with the former criterion being of highest value.

What is the judging process?

The competition has four rounds of judging:

1.  Final Venture Concept: Screeners will select up to 12 teams in each competition as semi-finalists candidates. Judging criterion is the venture summary guidelines. Click here.

2. Written Business Plan: All semi-finalist candidate teams are required to submit a draft of their business plan. The competition committee will select the semi-finalist teams. Criterion for judging: Written Business Plan Evaluation Guidelines.

3. First Round of Judging: All semi-finalist teams will present their venture idea in the first round of pitches before a panel of judges. The judges will select a small percentage of the teams to proceed to the final round as finalists. Teams are judged on both the written and oral presentations. Criterion for judging: Written Business Plan Evaluation Guidelines and Oral Presentation Guidelines. Link forms to above text.

4. Final Round of Judging: Finalists will present to a different panel of judges and competition winners will be selected. Criterion for judging – the written business plan and pitch with the later being the decisive factor.

What is the turnaround time on receiving the prize money?

The competition winners must sign and return the Berkley Center’s prize agreement. Check processing typically takes up to 90 days.